Reliance Industries Limited (RELIANCE) Q1 26/27 earnings summary

Executive summary

• Achieved record results in Q1 FY27 with consolidated revenue from operations at ₹340,257 crore, up 25% YoY, and double-digit gains across O2C, Digital Services, and Retail.

• Highest ever quarterly recurring EBITDA at ₹54,067 crore (+10.1% YoY) and Net Profit at ₹23,196 crore (+6.1% YoY), led by O2C and Jio Platforms.

• Consumer businesses contributed over 50% of consolidated EBITDA, supported by robust cash flows and a strong balance sheet.

• Total comprehensive income for the quarter was ₹26,463 crore.

• The results were reviewed by the Audit Committee and approved by the Board on July 17, 2026.

Financial highlights

• Consolidated revenue rose 24.5% YoY to ₹340,257 crore; EBITDA up 10.1% YoY to ₹54,067 crore.

• Net profit increased 6.1% YoY to ₹23,196 crore, despite higher finance costs and depreciation from 5G asset capitalization.

• O2C revenue up 30.4% YoY; Jio Platforms revenue up 12% YoY; Retail revenue up 12% YoY.

• JPL PAT up 9% YoY to ₹7,764 crore; RRVL PAT down 14% YoY to ₹2,805 crore.

• Basic and diluted EPS for the quarter were ₹15.48, down from ₹19.95 in Q1 FY26 and up from ₹12.54 in Q4 FY26.

Outlook and guidance

• Focus on scaling New Energy, data centers, and digital commerce, leveraging strong cash flows.

• Retail aims to double operating EBITDA over three years by scaling online, expanding own brands, and improving unit economics.

• O2C expects refinery margins to remain robust amid tight balances and strong summer demand.

• New Energy segment progressing on giga-factory ecosystem, targeting 20 GWp solar and 120 GWh battery capacity.

• The Board and Audit Committee have reviewed and approved the results, indicating continued focus on operational performance and compliance.